While Qatar led in terms of recovery, Dubai had a higher GOPPAR level (US$132.68) and came in a close second in terms of recovery, at 140%. Oman, while improved year over year, showed the lowest recovery at 78% of the pre-pandemic comparable.
LONDON — Miami and Qatar led the major global markets in hotel profit recovery for 2022, according to STR‘s full-year P&L data release.
Both markets’ gross operating profit per available room (GOPPAR) surpassed 2019 levels, with the metric reaching 155% of the 2019 comparable in Miami. Helped by the World Cup, Qatar’s GOPPAR indexed at 152%. Qatar is designated as a market in STR’s database due to its size and composition.
Noted below are the key market outliers by each region:
Europe
Paris’ GOPPAR (US$173.02) was 123% of its comparable 2019 level. London (US$105.17) was the next closest market at 88%. Berlin (US$34.67) recaptured just 60% of 2019 GOPPAR.
Middle East
While Qatar led in terms of recovery, Dubai had a higher GOPPAR level (US$132.68) and came in a close second in terms of recovery, at 140%. Oman, while improved year over year, showed the lowest recovery at 78% of the pre-pandemic comparable.
Asia Pacific
New Delhi (US$51.00) was the only major APAC market to achieve 100% of its pre-pandemic comparable. Singapore (US$83.57) and Bali (US$49.37) came in at 87% and 81% of the 2019 comparables, respectively.
North America
Behind Miami, Toronto’s GOPPAR level (US$88.03) came in at 100% of the 2019 comparable. San Francisco’s GOPPAR (US$50.86) was furthest away from its pre-pandemic comparable at 41%.
South America
Bogota’s GOPPAR came in at US$36.83, which was 106% of the pre-pandemic comparable. Rio de Janeiro (US$17.17) saw the next-highest GOPPAR comparison (71%). Lima (US$5.74) was at just 14% of the 2019 comparable.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
